Etext

Posted: August 6th, 2013

EText

15.8 Sixty-four students in an introductory college economics class were asked how many credits they had earned in college, and how certain they were about their choice of major. Research question: At? = .01, is the degree of certainty independent of credits earned?

Calculation of certainty in terms of the credits earned with the use Bayesian inference method. This method is relevant as it enables the calculation of the degree of certainty with the use of posterior probability approaches because of the presence of two antecedents

Bayesian Formula= P (H/E) = P (E/H) * P (H)

P (E)

The formula is summed as the probability of E given H as illustrated by the use of the sign / multiplied by the probability of H. The result is divided by the probability of E. in essence P(H/E) is regarded as the posterior probability which is the probability of H after observing the element E. in addition, probability of observing E given that the H is also known or has been observed. P (H) is also known as prior probability.

Individuals could identify their favorite brands of cola through tasting of the various brands available. Chi-square tests statistics are relevant in that it provides the needed data in terms of the expectation of those who would consume the various types of coal and the actual data of the consumption of the various types of coal drinks identified. Probability is in essence provides the expectations of the study. This might vary from the actual data to be provided.

P (E/H) * P (H

P (E)

= .05, is the correctness of the prediction different for the two types of cola drinkers?

Coca-Cola Classic= H1

Diet Coke=H2

Pepsi, =H3

P (0.5/ Diet Coke) * P (Diet Coke)

P (E)

P (0.05/ Coca-Cola Classic) * P (Coca-Cola Classic)

P (E)

P (0.5/ Pepsi,) * P (Pepsi)

P (0.5)